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It Is Spring,and Several Graduates of State U Are Seeking

Question 111
Multiple Choice

It is spring,and several graduates of State U are seeking employment.State U graduates have evenly distributed GPAs,from 2.0 to 4.0,with an average GPA of 3.0.The largest employer in town,Acme Dynamite,is interviewing candidates,hoping to hire a few hard workers.While Acme does not require students to submit a transcript with their applications,the hiring officer believes that high GPAs signal a willingness to work hard. Suppose both Acme and students applying for a position with Acme know that all students with GPAs of 3.0 or better include transcripts.Therefore, A)no students with GPAs less than 3.0 include transcripts. B)all students with GPAs of 2.5 and above do include transcripts. C)students with GPAs of less than 3.0 persuade those with higher GPAs to not include transcripts. D)Acme will consider transcripts to be not credible sources of information.

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Q 112
It is spring,and several graduates of State U are seeking employment.State U graduates have evenly distributed GPAs,from 2.0 to 4.0,with an average GPA of 3.0.The largest employer in town,Acme Dynamite,is interviewing candidates,hoping to hire a few hard workers.While Acme does not require students to submit a transcript with their applications,the hiring officer believes that high GPAs signal a willingness to work hard. Suppose that all State U students take the same courses and have the same academic abilities on entering college.They differ only by their tolerance for intensive study.If this is the case,a high GPA A)does not provide useful information to Acme,since all applicants are of equal ability. B)does not provide useful information to Acme,since all applicants took the same classes. C)identifies students who don't mind studying,so is not costly information to convey and therefore not credible. D)is a costly-to-fake indication that the high-GPA student is a hard worker.
Q 113
One costly-to-fake solution to the credibility problem in trading is to A)not trade. B)spend a lot of money on advertising. C)hire an attorney to prove that you are telling the truth. D)hire more workers than you need then fire the incompetent ones.
Q 114
The seller of an existing house claims it is in great shape,the major systems (AC,heating,water)are in good order,and he is offering a 2 year warranty on the house.His statements about the quality of his house are A)credible even in the absence of a warranty. B)overstated. C)likely to be true because the warranty is costly to fake. D)likely to be untrue otherwise he would not offer the warranty.
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